Cashless Policy: CBN Governor Sends ‘Important Message’ To Nigerians

Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN), has apologised to bank customers for the inconveniences the newly introduced cashless policy will cause.

YaahooJournalist reports that the CBN governor rendered the apology at the end of the Monetary Policy Committee (MPC) meeting in Abuja, Nigeria’s capital on Friday, when he was asked of his reaction to the push back from Nigerians over the return of charges on deposits and withdrawals beyond a certain threshold.

According to CBN governor: “I sympathize and regret inconvenience cashless policy will cause bank customers.”

The CBN governor maintained that despite the apology, the CBN cashless policy will progress as announced and gave reasons why it will continue.

Emefiele also spoke on the controversial judgment debt of $9.6 billion awarded to P&ID, saying that “by the grace of God there is no treat to the reserves…..and we have received presidential approval that those indicted should be prosecuted.”

The MPC, on the other hand, retained interest rates at 13.5% as well as other parameters at the end of the meeting.